Ban on MIT's holding Residential Property

The Treasurer Scott Morrison made the following announcement last Friday:

"The draft legislation released today also includes an integrity measure which clarifies that, from today, MITs cannot acquire investments in residential property, except where it is affordable housing. This will prevent MITs from investing in houses, units and apartments to hold for long term rent (other than affordable housing)."

• "clarifying that from 4:30pm AEST 14 September 2017 MITs cannot acquire residential property, other than affordable housing."
• "MITs currently holding residential property will be provided with a transitional period until 1 October 2027, for their existing property assets."

IMO if the Domacom structure comes within the Ban as outlined by the Treasurer it may have a significant impact on Domacom's Shareholders and Sub Fund Trust unit Holders alike.

Currently awaiting Domacom's advice to Stakeholders on the impact of this new statement by the Treasurer Scott Morrison.

The Treasurers Press Release can be found at http://sjm.ministers.treasury.gov.au/media-release/090-2017/